The Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over governance and payment defaults, and decided to refer the two NBFCs for resolution under the insolvency law. This is only the second time in as many years that the Reserve Bank of India (RBI) is referring entities for the resolution process under the Insolvency and Bankruptcy Code (IBC) after taking first ever such step in the case of DHFL back in 2019. Superseding the boards of the crisis-hit Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL), the RBI has appointed Rajneesh Sharma, former Chief General Manager of Bank of Baroda as the administrator to manage the affairs of the two companies.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
Netflix has unveiled a line-up of 15 original series as well as returning seasons of popular shows.
As an applicant, you must understand there is a difference between getting an offer letter from a university and receiving a study visa, explains Ajay Sharma, president, and founder, Abhinav Immigration Services.
Gehraiyaan seems to be aurally thin, which serves as a clue to the larger issues plaguing the movie, observes Rohit Sathish Nair.
You can pitch yourself as the perfect candidate by highlighting your skills, the relationship between your experience and the job, and your willingness to learn.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
Automobile dealers' body FADA on Tuesday expressed concern that the chip shortage issue could derail passenger vehicle (PV) retail sales during the festive season, as automakers are struggling with an adequate supply of vehicles to dealers due to production challenges. Terming semiconductor shortage as a "full-blown crisis", the industry body warned of a lacklustre festive season, especially for the passenger vehicle dealer fraternity, with low inventory levels and non-availability of the fast-moving model variants ahead of the peak festive period.
But there are challenges, observes Tamal Bandyopadhyay.
The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
The imposing monument of Sardar Vallabhbhai Patel, also called the Statue of Unity, is a major tourist attraction in the state since it was inaugurated in October 2018.
There are four simple ways to link PAN to Aadhaar; make the most of the deadline to avoid hassles later, explains Bindisha Sarang.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
Developed countries are relaxing restrictions on economic activity at a faster rate than expected. Global demand for consumer goods, intermediates and commodities is growing at a fast pace. Most exporters are flushed with orders, says T N C Rajagopalan.
Modi said people, especially those involved in 'blue collared' jobs, would prefer to get employment near their homes. He suggested that artificial intelligence can be used help employers meet skilled workforce.
The second quarter of FY22 continued to show double digit growth for the top four IT services providers, with every vertical and geography growing well, even though the total contract value (TCV) looked soft for all the players. The trend was first evident in Accenture's Q4 numbers, which saw its TCV in outsourcing deals softer. A soft TCV does not mean that growth is declining, but it does point to the trend of few and scarcer mega deals.
An NBFC must actively manage its collateral positions, differentiating between encumbered and unencumbered assets, and monitor such assets so that they can be mobilised in a timely manner, central bank says in circular.
India, the world's third-largest energy consumer and importer, on Wednesday warned of high oil prices hurting the nascent and fragile global economic recovery and floated an idea of long-term supply contracts that provide predictable and stable pricing. Speaking at the India Energy Forum by CERAWeek, Oil Minister Hardeep Singh Puri said there was a mismatch between demand for oil and the supplies producers such as OPEC+ were making and there was a case for raising the production. The world, he said, needs "predictable, stable and affordable" prices for it to recover back to pre-pandemic levels.
Subhash K Jha celebrates Dhanush's birthday on July 28 by picking five of his favourite Dhanush movies.
Tickets can be booked from its counters, on the website, on the mobile app, or through agents
Check out what your favourite stars wore to the fashion week.
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
Listen to what they are saying, notice their body language, be interested in their stories and do not talk just about yourself.
The government on Monday clarified that transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for conducting business with Indian parties, while explaining what would construe online sale of goods or services.
The I-T department's app is useful for those looking for information, grievance redress, and resolving PAN- or TAN-related issues.
Experts believe the new norms may be an indirect way for Sebi to apply the brakes on dividend option plans in MFs.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
Will syringe shortage puncture India's Covid vaccine plans?
There should have been a focus on sanitation and not on littering or garbage. Absence of sanitation affects the health of children, explains Aakar Patel.
Investors should keep updating their personal and bank details with fund houses. They should also opt for the auto-pay facility so that the dividend proceeds get credited into their account directly, advises Bindisha Sarang.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
With the wedding season already in full swing, a few things to keep in minutes financially when tying the knot, advises Bindisha Sarang.
India raced to a 2-0 lead in their Davis Cup tie
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
The Tamil Nadu government has been transparent in reporting COVID-19 deaths and no one can hide the information, Chief Minister K Palaniswami said on Thursday, rejecting claims of under-reporting of fatalities. He also asserted there was no community transmission of coronavirus in the state, which has reported 1,500 plus fresh cases for four successive days till Wednesday with the tally crossing the 36,000 mark.
The glass is always full when it comes to OTT. Sukanya Verma brings you everything you can catch on streaming platforms this week.
'India is still a small market but whatever we do, we do it with full focus.'
The tax department will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
